Greenspan leaves uncertain world

Markets are nervous as Ben Bernanke takes over as chairman of the US Federal Reserve

By

Barry Riley

January 23, 2006 5:00 pm GMT

Markets that entered 2006 serenely, indeed complacently, have had their confidence jolted.

Tokyo, last year's best-performing big stock market, tumbled by 7% in three days. Among indicators of trouble ahead, the price of crude oil has surged by about 9% this month and gold has leapt upwards, too. Yet the dollar, on the whole, has stood its ground.